The Avenue

Recovering Phoenix Rising Though Old Tricks

Last month the Metro Program released its latest report card for the nation’s 100 largest metro economies, the MetroMonitor. The report, which evaluates economic performance through the third quarter of 2012, revealed that as the economic recovery continues to play out slowly across the country, some of the metros hit hardest by the recession are seeing surprising rebounds from their lows. The Phoenix, Ariz. metropolitan area epitomizes this trend. After a precipitous fall into the recession, the region is making notable progress.

Needed: Efforts to Manufacture a Recovery
January 14, 2013

Though Washington can’t seem to get enough of it, the debt and deficits fixation continues to feel pretty theatrical. Far scarier, by contrast, is the state of the economy. Notwithstanding some positive signs in the housing and construction sectors, the drifting economy remains troubled. Real domestic product has been growing at tepid rates below 2 percent per year. Pay remains stagnant for most workers.

New State Data Show EITC’s Widespread Anti-Poverty Impact
January 11, 2013

'New State Data Show EITC’s Widespread Anti-Poverty Impact' authored by Elizabeth Kneebone and Jane Williams

Amid Cuts, Invest in Innovation
December 21, 2012

Contrary to the claims of some politicians and pundits, we can’t cut our way to a strong economy. We need to get our fiscal house in order, to be sure. But we also need to invest in those key areas that can help boost the nation’s growth, which is still the best way to erase the debt. Which is why, in the midst of its fiscal struggles, Congress should move forward on the permanent authorization of a simpler and more generous research and experimentation (R&E) tax credit. Since 1981, the R&E tax credit has helped guard against one of the foremost enemies of innovation: underinvestment.

The Migration Gift Exchange: Financial Flows from America’s Immigrants
December 21, 2012

This past Tuesday was International Migrants Day, declared by the United Nations to honor the contributions and sacrifices that international migrants make to both their destination and origin countries. As I’ve written previously, migrants are “economic ambassadors” that contribute to the growth of two economies simultaneously because they are more likely to be sending remittances--personal flows of money sent across international borders--to family members in their countries of origin. As many of us rush into the shopping malls this weekend for last minute gifts, the millions of migrants liv

Sandy Recovery: The Case for Disaster Bonds
December 10, 2012

With Patrick Sabol Super Storm Sandy wrought havoc across the East Coast, leaving behind an estimated $10 to $20 billion dollars worth of physical damage and inflicting another $30-$50 billion in economic losses.

Cut the Mortgage Tax Break, Invest in R&D
December 06, 2012

As tax hikes and spending cuts loom, we at the Metro Program will continue to harp on the need also to renew the economy. Put simply, U.S.

How Global Cities Adapt to Global Change
November 30, 2012

Moving around (or trying to move around, at least) the city of São Paulo this week, spending time with the State Secretariat of Metropolitan Development, and visiting the port of Santos, it doesn't take too much insight to see that better transportation infrastructure is critical for the future global competitiveness of the entire São Paulo metropolitan region. But I was struck at today's Global Cities Initiative (GCI) forum how many speakers and panelists, when confronted with the question of what one factor will matter most for the future of São Paulo , U.S.

No Global Safety Net if U.S. Jumps Off the Fiscal Cliff
November 30, 2012

This week, the Organization for Economic Co-operation and Development (OECD) released a new forecast of the global growth for the next two years. The good news is that emerging markets might pick up slightly, but nothing to the levels seen before the global recession.

Moving São Paulo Locally and Globally
November 30, 2012

with Joseph Parilla Sitting again in São Paulo's deadly rush hour traffic this morning, one has to wonder: Where are all these people going? Of course, they're off to work. The São Paulo metro area has an unemployment rate of 5.9 percent, two full percentage points below the U.S. average.